Roscan Minerals Announces Increase IN Size of Private Placement and Debt Settlement

ROSCAN MINERALS CORPORATION

365 Bay Street, Suite 400

Toronto, ON M5H 2V1

FOR IMMEDIATE RELEASE

March 24, 2017

Toronto, Ontario

ROSCAN MINERALS ANNOUNCES INCREASE IN SIZE OF PRIVATE PLACEMENT

AND DEBT SETTLEMENT

Roscan Minerals Corporation (“ Roscan” or the “ Company”) (TSX-V: ROS.H) announces that

the Company is increasing the size of its prev iously announced non-brokered private placement

in the amount of $250,00, for aggregate gross proceeds of $500,000 (the “ Offering”). The

Offering will now be up to 10,000,000 units (“Units”) at a price of $0.05 per Unit.

Each Unit will consist of one common share (“ Common Share ”) and one Common Share

purchase warrant (“ Warrant”). Each Warrant will entitle the holder thereof to purchase one

additional Common Share at an exer cise price of $0.08 for twelve ( 12) months from the date of

issuance. The Company reserves the right to accele rate the expiration of the Warrants, if at any

time, which is more than four months and one day following the closing date of the Offering, the

closing price of the Company’s Common Shares is $0.15 or more for at least twenty (20)

consecutive trading days. The Company may pay finder’s fees with respect to proceeds raised.

The Company also announces that it intends to settle an aggregate of $243,000 of indebtedness

owed to certain arm’s length and non-arm’s length creditors through the issuance of an aggregate

of 4,860,000 Common Shares of the Company at a price of $0.05 per Common Share (the “Debt

Settlement”).

Closing of the Offering and Debt Settlement is s ubject to receipt of all necessary corporate and

regulatory approvals, incl uding the approval of the NEX. A ll securities issued in connection

with the Offering will be subjec t to a hold period of four months plus a day from the date of

issuance and the resale rules of applicable securities legislation.

The Company intends to use the net proceeds from the Offering to fund its initial exploration

payment under an option and join t venture agreement with Pe langio Exploration Inc., for

working capital purposes and otherwise in a manne r consistent with the accomplishment of the

Company’s business objectives.

For further information, please contact:

Mark McMurdie,

Chief Financial Officer

Tel: (416) 293-8437

Email: [email protected]

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Neither TSX Venture Exchange nor its Regulation Services Prov ider (as that term is defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain “forward-looking inform ation” within the meaning of applicable securities law.

Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”,

“believe”, “anticipate”, “estimate”, “m ay”, “will”, “would”, “potential”, “pro posed” and other similar words, or

statements that certain events or conditions “may” or “will” occur. These statements are only predictions.

Forward-looking information is based on the opinions and estimates of management at the date the information is

provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or

results to differ materially from those projected in the fo rward-looking information. For a description of the risks

and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s

Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking

information if circumstances or management's estimates or opinions should change, unless required by law. The

reader is cautioned not to place undue reliance on forward-looking information.